Settlement agreement for Xyrem® US lawsuits
Hikma announces settlement agreement for Xyrem® (sodium oxybate) U.S. class action lawsuits
· Hikma has entered into a preliminary class settlement agreement that resolves the majority of its Xyrem® (sodium oxybate) antitrust class action cases in the US
· Under the agreement and subject to court approval, Hikma would pay up to $50 million in cash
London, 8 May 2025 - Hikma Pharmaceuticals PLC, along with its wholly owned subsidiary Hikma Pharmaceuticals USA Inc. (the Company), today announced that it has reached an agreement to resolve the majority of the class action antitrust lawsuits brought against the Company by third-party payors in the US who have purchased or been billed for Xyrem® (sodium oxybate). These matters have been previously disclosed as contingent liabilities in our financial disclosures.
"We are pleased to have reached a settlement agreement that protects the Company's interests and provides clarity to our stakeholders," said Sam Park, Hikma's General Counsel. "We are proud to have facilitated patients' access to a lower-cost authorised generic version of this essential medicine, years ahead of its patent expiration."
The settlement is subject to court approval and resolves the majority of the cases pending against Hikma. If all conditions are satisfied, Hikma agrees to pay up to $50 million in cash.
This settlement is not an admission of wrongdoing or liability, and Hikma will continue to defend itself vigorously against any litigation that this settlement does not resolve.
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Enquiries
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Susan Ringdal EVP, Strategic Planning and Global Affairs |
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About Hikma
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated BBB-/stable S&P and BBB-/positive Fitch)
Hikma helps put better health within reach every day for millions of people around the world. For more than 45 years, we've been creating high-quality medicines and making them accessible to the people who need them. Headquartered in the UK, we are a global company with a local presence across North America, the Middle East and North Africa (MENA) and Europe, and we use our unique insight and expertise to transform cutting-edge science into innovative solutions that transform people's lives. We're committed to our customers, and the people they care for, and by thinking creatively and acting practically, we provide them with a broad range of branded and non-branded generic medicines. Together, our 9,500 colleagues are helping to shape a healthier world that enriches all our communities. We are a leading licensing partner, and through our venture capital arm, are helping bring innovative health technologies to people around the world. For more information, please visit: www.hikma.com
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